Seasonal Variation in Cost-of-Funds at Thrift Institutions
The purpose of this note is threefold. First, in addition to the well-known seasonal pattern to the eleventh-district cost-of-funds (COF), we document a twelve-month seasonal in the national median COF. Second, we demonstrate that the cause of seasonality in each of these COF series is due to the maladjustment of length-of-month effects. In particular, the eleventh-district COF is biased upwards in relatively short months while the national median is biased downward. Third, we show that the popular partial adjustment model for modeling the COF is misspecified. Copyright American Real Estate and Urban Economics Association.
Volume (Year): 20 (1992)
Issue (Month): 4 ()
|Contact details of provider:|| Postal: |
Phone: (812) 855-7794
Fax: (812) 855-8679
Web page: http://www.blackwellpublishing.com/journal.asp?ref=1080-8620
More information through EDIRC
|Order Information:||Web: http://www.blackwellpublishing.com/subs.asp?ref=1080-8620|
When requesting a correction, please mention this item's handle: RePEc:bla:reesec:v:20:y:1992:i:4:p:573-582. See general information about how to correct material in RePEc.
If references are entirely missing, you can add them using this form.